BlackRock offloaded over $330 million of these cryptocurrencies in a week
BlackRock’s spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) recorded a combined net outflow of approximately $333.6 million over the past week.
The ouflow highlights continued institutional caution toward digital assets despite signs of stabilization at the end of the week.
Data from spot Bitcoin ETF and Ethereum ETF flow trackers shows that the majority of the selling pressure came from BlackRock’s iShares Bitcoin Trust (IBIT), which saw nearly $355 million leave the fund over the five days.
Meanwhile, BlackRock’s Ethereum ETFs attracted modest inflows that partially offset Bitcoin-related redemptions.
The latest figures come as U.S. crypto ETFs continue to experience a broader risk-off environment that has weighed on digital asset investment products throughout June.
The largest daily withdrawals occurred on June 8 and June 10, when investors pulled $232.9 million and $148.5 million, respectively. Additional outflows of $61.6 million were recorded on June 9.
However, the data also shows a notable turnaround late in the week. On June 11, IBIT attracted $30.3 million in fresh capital, followed by another $57.7 million on June 12. The positive flow on June 12 helped lift total spot Bitcoin ETF inflows across the market to $85.9 million for the day.
Total Bitcoin spot ETF inflows. Source: Coinglass
Despite the rebound, the late-week inflows were not enough to offset the substantial withdrawals recorded earlier in the week, leaving IBIT with a net five-day outflow of roughly $355 million.
While BlackRock’s Bitcoin ETF experienced heavy redemptions, the firm’s Ethereum ETF products delivered a more resilient performance.
Ethereum mixed flows
BlackRock’s ETHA fund recorded net outflows of approximately $7.2 million during the five days. However, the company’s ETHB fund attracted $28.6 million in net inflows, resulting in a combined net inflow of about $21.4 million across BlackRock’s spot Ethereum ETF products.
The Ethereum flow shows that ETHB benefited from strong investor demand on June 8, when the fund received $26.9 million in fresh capital. Additional inflows of $1.7 million were recorded on June 10.
ETHA, meanwhile, experienced more mixed trading activity, including outflows of $20.6 million on June 10 and $8.5 million on June 9. Even so, Ethereum-related products significantly outperformed BlackRock’s Bitcoin ETF during the week.
Total Ethereum spot ETF inflows. Source: Coinglass
The broader U.S. crypto ETF market has remained under pressure in recent weeks as investors reduce exposure to risk assets amid ongoing market volatility.
Industry-wide data indicates that spot crypto ETFs collectively recorded roughly $322 million in net outflows over the past week. Bitcoin ETFs accounted for the majority of the selling pressure, while Ethereum ETFs generally posted smaller withdrawals.
This suggests that investor sentiment may be beginning to stabilize. June 12 marked a return to positive flows for spot Bitcoin ETFs after several sessions of sustained outflows, with BlackRock’s IBIT leading inflows across the sector.
